Vitria Tech slumps on warning of disappointing results

NEW YORK (MarketWatch) -- Shares of Vitria Technology
VITR, +1.57%
dropped 14% after the business integration services company warned that second-quarter results would fall short of expectations as several deals failed to close on time. As a result, the company said it would be forced to reduce it workforce by 15%. Vitria now expects a loss of 18 to 20 cents a share and revenue of about $12 million, including license revenue of $2 million. The company will record a charge of $900,000 during the quarter related to the job cuts. The stock was last down 49 cents at $3.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.